You are a member of a defined-benefit plan that pays a two percent benefit for each year of service based on your best five year's earnings. If you qualify for an unreduced pension and have worked for the company for 30 years, your pension will be
A) The answer is unknown because the benefit must be calculated by an actuary.
B) 60 percent of the average of your best five years' earnings.
C) 50 percent of the average of your best five years' earnings.
D) 60 percent of the average of your last five years' earnings.
Correct Answer:
Verified
Q70: One difference between CPP and OAS is
Q71: Rollie is entitled to a partial CPP
Q72: If Ramzi earned $46 000 from employment,
Q73: If you have been in a employer-sponsored
Q74: Which of the following investments is least
Q76: Morley is retiring on his 66th birthday.
Q77: If the average income in Canada maintains
Q78: Which of the following is a tax-free
Q79: A self-employed individual pays
A)both the employer and
Q80: With which of the following plans will
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents